EQT has announced that its EQT Mid Market Europe fund (EQT Private Equity) has agreed to sell Spanish ISP Adamo Telecom to Ardian Infrastructure. Headquartered in Barcelona, Adamo currently delivers fixed broadband and mobile services to approximately 250,000 retail and wholesale subscriptions. The transaction is subject to customary conditions, including the receipt of applicable regulatory approvals, and is expected to close in Q1 2022.
EQT acquired a majority stake in Adamo in 2017. During its ownership period, Adamo says it has grown the ISP’s fibre-to-the-home (FTTH) network exponentially from 100,000 homes passed in the Catalonia region to 1.8 million homes across a nationwide footprint through organic network rollouts and network acquisitions.